Renewable Energy Is The Future And The Future Is Now!
What is Renewable Energy?
Renewable Energy effectively uses natural resources such as sunlight, wind, rain, tides, and geothermal heat, which may be naturally replenished. Renewable Energy Technologies range from Solar Power, Wind Power, Hydroelectricity/Micro Hydro, Biomass, and Biofuels for transportation.
Is Renewable Energy for me?
Renewable Energy has a broad-based appeal. The end-line consumer is a homeowner, landlord, retail business owner, farmer, rancher, manufacturer, school, hospital, church, apartment complex owner, and virtually anyone who pays utility bill.
Your motivation may be to supplement your energy needs or provide 100% of the power for your location. You may be looking at it as a way to become self-sufficient or as a money-maker by selling the energy you have generated to tenants or even back to the utility providers themselves. Your goal may be to reduce your carbon footprint on this planet by reducing emissions and use or dependency on fossil fuels. No matter what your needs or desires are, we have the solutions for you.
Industry Overview
A recent ASES (American Solar Energy Society) report stated that in the U.S., 8 Million people were employed in renewable energy and energy efficiency industries in 2006, and $933 billion in sales were generated, $100 billion in profits, and $150 billion in increased federal, state and local government tax revenues. The report found 196,000 people directly employed by the renewable energy industry. As well as 452,000 indirect jobs created, and revenues of 39.2 billion in 2006.
In 2006, about 18 percent of global final energy consumption came from renewables, with 13% coming from traditional Biomass, like wood-burning, hydropower was the next largest renewable source, providing 3%, followed by hot water/heating which contributed 1.3%. Modern technologies, such as geothermal, wind, solar, and ocean energy together provided some 0.8% of final energy consumption. The technical potential for their use is very large, exceeding all other readily available sources.
Wind power has a worldwide installed capacity of over 100 GW and is widely used in several European countries and the USA. The manufacturing output of the solar (Photovoltaics)industry reached more than 2,000 MW per year in 2006. Solar Thermal Power stations operate in the USA and Spain, and the largest of these is the 354 MW SEGS power plant in the Mojave Desert. The world's largest Geothermal Power installation is the Geysers in California, with tared capacity of 750 MW.
While there are many large-scale renewable energy projects, renewable technologies are also suited to small off-grid applications, sometimes in rural and remote areas, where energy is often crucial in human development.
Climate change concerns coupled with high oil prices, peak oil and increasing government support are driving increasing renewable energy legislation, incentives and commercialization.
Investment capital flowing into renewable energy climbed from $80 billion in 2005 to a record $100 billion in 2006. This level of investment combined with continuing double digit percentage increases each year has moved what once was considered alternative energy to mainstream. Wind was the first to provide 1% of electricity, but solar is not far behind. Some very large corporations such as BP, General Electric, Sharp, and Royal Dutch Shell are investing in the renewable energy sector.
Trends Favoring Renewable Energy
Other than market forces, the renewable industry often needs government sponsorship to help generate enough momentum in the market. Many countries and states have implemented incentives - like government tax subsidies, partial copayment programs and various rebates over purchase of renewables - to encourage consumers to shift to renewable energy sources. Government grants fund for research in renewable technology to make the production cheaper and generation more efficient.
Development of loan programs that stimulate renewable favoring market forces with attractive return rates, buffer initial deployment costs and entice consumers to consider and purchase renewable technology.
Many think-tanks are warning that the world needs an urgency driven concerted effort to create a competitive renewable energy infrastructure and market. The developed world can make more research investments to find better cost efficient technologies. The renewable energy market could increase fast enough to replace and initiate the decline of fossil fuel dominance and the world could then avert the looming climate and peak oil crises.
Most importantly, renewables are gaining credence among private investors as having the potential to grow into the next big industry. Many companies and venture capitalists are investing in photovoltaic development and manufacturing. This trend is particularly visible in the United States, Europe and Japan.
Main Renewable Energies Technology
Renewable energy flows involve natural phenomena such as sunlight, wind, rain, tides, and geothermal heat, as the International Energy Agency explains: "Renewable energy is derived from natural processes that are replenished constantly. In its various forms, it derives directly from the sun, or from heat generated deep within the earth. Included in the definition is electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and biofuels and hydrogen derived from renewable resources."Â Â Each of these sources has unique characteristics which influence how and where they are used.